What is Check Verification?
Check verification is a low-cost service that verifies checks you might accept from a customer. It allows the merchant to know if the customer has any bad checks that have been written. The check is scanned through a POS Terminal or Check Reader and is verified. This system of checking is usually done within seconds and poses no wait time for the merchant or customer. Real time verification is important for both the retailer and customer and verification allows quicker and safe transactions.
Check verification is a low-cost service that verificies checks you might accept from a customer. Checks are verified against a database, and with ECHO’s XpressVerification service, you benefit from our proprietary database, National Check Network(R) (NCN). NCN contains 17 million negative records and 70 million positive records against which your check will be confirmed. If the account number corresponds to a problem account (an account where checks have bounced and not been repaid) you are notified through the system response. Read about XpressVerification on our Web site, or visit our NCN site for information on NCN and its application for collection agencies and major accounts.
Check verification is a low-cost service that verifies checks you might accept from a customer. It allows the merchant to know if the customer has any bad checks that have been written. The check is run through a POS Terminal or Check Reader and then its verified. This system of checking is usually done within seconds and poses no wait time for the Merchant at all. Real time verification is important to both the retailer and customer and verification allows quicker and safe transactions. Benefits of Real Time Authorization: Very quick and easy when used with a check reader No discount fee charged to Merchant Bad check are automatically forwarded to collection agency (no Merchant involvement) Merchant is reimbursed 100% of check upon successful collection; no additional fees! What is Check Guarantee? Check guarantee is like an insurance policy for checks you accept at your retail location. All checks that are received are checked against a negative database and reduces your risk of acce
